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CNN
Jan 6, 2013 6:00am PST
, senator. thanks for joining us. can you get a deal on the debt ceiling? can you raise that debt ceiling without agreeing to some spending cuts? >> well, i think we're going to need both. what the president has said is we need some balance here. from this point forward -- >> excuse me what, the president said he's not going to deal. he's not going to negotiate. he just wants you to raise it. is that going to happen? >> let me add one thing. i think in the course of the state of the union address, and the president has already said, it we're going to be talking about further deficit reduction, but it has to be done in a balanced way. at the heart of this debt ceiling debates is whether or not we're going to continue to reduce the deficit. i think we need to do it in a thoughtful way. and the president said as long as it's balanced he's open to the conversation. >> okay. so i'm confused because i've heard him say multiple times i am not going to negotiate over raising this debt ceiling. so are you going to negotiate? >> i can just tell you this. the debt ceiling is something that we should put behind us in a hurry. you know, it was john
FOX News
Jan 6, 2013 7:00am PST
it comes to raising the debt ceiling as part of a larger deal. if you take a closer look at the polling, once you name individual spending cuts, voters are less inclined to support them. if you name individual programs that they would cut. generally voters support spending cuts in conjunction with the debt ceiling. >> there are polls showing republicans would have taken the blame if no fiscal cliff deal had been achieved. is there a thinking honest republicans -- amongst republicans that that will shift and if we fail to raise the debt limit we default on our loans, it's the white house and democrats would get the blame and not republicans? >> republicans hope that's the case. i don't think that's very likely. either they'll share the blame, if there's a government shutdown or you states defaults on credit. the last time the government shut down in '95 and 9 # '6 it was the house of representatives. >> your washington colleagues have been writing about the infighting, the division within the reason party. is that overstated and is there a way for republicans to come together in a way that maximizes their strength, power, and unity in
FOX Business
Jan 9, 2013 12:00am EST
ahead, doug. >> i want to point outgoing over the debt ceiling doesn't cut spending. the fact that the treasury doesn't have the money doesn't relief them of the obligation to spend it. it is the law of the land to spend the money. melissa: hang on, guys. hang on. we have to talk one at a time. what it actually says i'm not going to extend you anymore credit until you get your books in order. why should i give you more credit to spend when you haven't figured out how you're going to live within your means? why is that wrong, doug? >> that's right. in fact the fact that the you know, your teenager overspent their credit card doesn't mean you don't pay the bill. melissa: you say i will not raise the limit to get your act together. >> my point if you want to cut spending pass laws to cut spending. hitting debt ceiling doesn't do it. >> we have go different issues. one is the debt ceiling. the second is the sequester. doug is right, debt ceiling expiring doesn't automatically cut spending but the sequester does. cuts across the board manner, social security, medicare and medicaid are exemp
MSNBC
Jan 5, 2013 4:00am PST
soon. >> let's switch gears, felisha, you write about the upcoming debt ceiling battle. the president says no compromise, but reports say speaker boehner told fellow republicans, he plans to use the debt ceiling as leverage for subpoenaing cuts. who has the upper hand when it comes to raising the debt kre ceiling? >> most observers would say the leverage is on republicans' side here. what is interesting about this debt ceiling battle compared to the last one, have you high-ranking members taking positions pretty far away from the mainstream of what their party is saying. have you house minority leader come out at a news conference say the president should bypass congress entirely and invoke the 14th amendment to the constitution and raise the debt ceiling on his own and high-ranking republicans, john cornyn, also stated this week he thinks republicans should be prepared to push it to the point of a potential government shutdown in order to more spending cuts from the other side. one important thing to bear in mind, we have two months to get the deal done, the leeway is much less for them. the senate and the house will only be in session for two days until they come back on february 4th, and that's not a lot of time to sit down an
FOX
Jan 6, 2013 10:00am PST
tough stay tuned for bruising round twompt from automatic spending cuts to raising the debt ceiling and paying for uncle sam to at a open, the battle battle lines are how will that fight play out. we'll ask two key congressman. van hollen and jim jordan. he's's new man in town with a message that champions opportunities. will the party establishment listen. we'll get a fresh perspective from senator ted cruz. from spending to immigration and gun control debate, will the new congress get past the toxic partis an shepto get things done for voters. we'll ask the sunday panel to read the political teleaves all right now on "fox news sunday". hello again from fox news in washington. after side stepping the fiscal cliff, the country faces a triple threat of greater scale . at stake government spending cuts and full faith and credit of the united states. with bruises fresh from the last dust up early jabs are already flying. joining is democratic chris van hollen and republican jim jordan. senate minority leader said the revenue piece is done. the president wants more tax he needs to limit
CBS
Jan 5, 2013 6:30pm EST
pulled into that debate. but republicans want a fight, tying the debt ceiling to spending cuts required by the fiscal cliff. >> we're crushing today's small business and the next generation of americans under a mountain of debt. >> reporter: they see an opening at the end of february when the debt limit, new $16.4 trillion, comes up as do mandatory spending cuts in the tebz of billions. >> it's time to face up to the fact our nation is in grave fiscal danger, grave fiscal danger, and it has everything to do with spending. >> reporter: with taxes raised now, republicans contend they own the spending cut debate. to complicate matters, the government runs out of funds for day to day operations at the end of march, meaning all three of these deadlines will soon merge. >> axelrod: major, thank you. the latest employment numbers out yesterday have the economy adding 155,000 jobs last month. not enough to budge the unemployment rate from 7.8%. it's especially slow going in the public sector. hiring there hit a six-year low. still, some government agencies are starting to add workers. this week
MSNBC
Jan 5, 2013 11:00am PST
john boehner drawing a hard line as well saying he'll use the debt ceiling debate to try to cut spending. so it looks like we are gearing up for another big battle, craig. this vacation will not last very long. >> kristen welker with a whole lot of day left in hawaii. i expect you have plans as well. good luck, kristen. >> thanks, craig. >> out with the old and in with the new. we're not just talking about out with the old and in with the new. we're not just talking about the fights on the horizon that will include a few familiar faces and washington post ed o'keefe, good afternoon to you, gentlemen. >> gentlemen. >> ed, the end of 2012, all about the fiscal cliff. right now we're talking about the debt ceiling discussion ahead. how tough of a fight is president obama going to be coming home will to? >> oh, a very tough one because republicans now determined more than ever to get spending cuts as part of the fiscal deal on the fiscal cliff. the president said he's not negotiating over it and the new congress began making it very clear that spending cuts will be what they focus on like a
Comedy Central
Jan 8, 2013 1:30am PST
perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have to make a skylight in it. sounds nice. it's pretty but they rarely get caulked properly and when it rains, it drips and ruins your sisal carpet. the republicans are clearly in a strong position but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and a congressman are suggest a $1 trillion platinum coin could be minted and the government could use it to pay the debt, avoid default and preempt the debt ceiling crisis. >> stephen: we should have known that a coin was obama's solution to everything. it was right in his slogan. change. it's legal in that it is not technically illegal. [ laughter ] let me explain with someone else's mouth. >> technically it does appear to be legal. here is how. >> the u.s. government can print new money but there's a limit to how much paper money can
ABC
Jan 6, 2013 6:00pm PST
session under pressure to avert another financial crisis, this time over raising the debt ceiling. if an agreement is not reached by late february or early march, the united states risks defaulting on its phenomenon r financial obligations. the argument will be how much congress will agree to cut spending. >> the bottom line is we can't continue down the path we're on of borrowing money to pay our debt. we have to have dollar for dollar cuts. >> key democrats and say the debt ceiling and the tax cuts are unrelated. >> not going to say i'm not going to pay my bills unless you stop buying stuff. so stop buying stuff so you don't have future bills but right now we have to pea the bell for what we incur. i you want to tie it to what we do next, fine. >> the big part of the budget is getting people back to work. >> president obama has said he will not negotiate with congress on whether they should pay their bills. some republicans are now criticizing his fiscal leadership. >> what is really disappointing to me is that the president isn't generating a discussion on his own help has to be dragged kicking and screaming to the table when he have these other big issues like the debt ceiling to get him to talk about it. i wish he would lead. >> after nancy pelosi appeared on national tv it was of
FOX Business
Jan 9, 2013 11:00pm EST
with the debt ceiling? don't you think we'll do that with this two month extension we got with the automatic spending cuts? we'll do that again, right? >> the leverage they have to debt ceiling that get to spending cuts, debt ceiling will be there you have to adjust it somehow, let's get to spending cuts. gross domestic product is -- >> the president said we don't have a spinnin spending problem. congressional black caucus said leave the entitlements alone. and with show much left off the table and feeling emboldened by polls that say keep sticking it to the rich. when are they going to do anything. >> that is the problem, you have to cut on some indict illment, and you have -- entitlements. neil: i know you are right, but the democrats fils feel the wins thwind isat their back. >> the issue is any spending increase, and any tax cut has to start in the house of representatives. when you give that up. >> game over, joe, now. you talk about the balance of tax hikes. >> in terms of tax hikes? my friends are not going to like this on wall street, if you don't have paid in capital in hedge fund you should not get cap
CW
Jan 5, 2013 10:00pm PST
tying the debt ceiling to spending cuts required by the fiscal cliff. >> we're crushing today's small businesses and the next generation of americans under a mountain of debt. >> reporter: they see an opening at the end of february when the debt limit now $16.4 trillion comes up as to mandatory spending cuts in the tens of billions. >> it's time to face up to the fact that our nation is in grave fiscal danger. grave fiscal danger and it has everything to do with spending. >> reporter: with income taxes raised republicans contend they now own the spending cut debate. to complicate matters they will run out of funds by the end of march. the president can tell himself he's not trading spending cuts for an increase in the debt ceiling but he probably will be. at least indirectly. major garrett, cbs news, the white house. >>> you hear the term winter wonderland tossed around a lot at this time of year. this is the 29th annual ice and snow festival in harbin, china and all of the large scale snow and ice sculptures are built out of ice block taken from the nearby river. the festival attract
KICU
Jan 4, 2013 4:00am PST
spending cuts for two months and left the debt-ceiling situation unresolved. "the big spending cuts didn't occur. we just don't know where those are at yet." and then there's the cost of obamacare. in some places, small companies are said to be preparing to downsize to get under the 50-employee cut-off. "companies just aren't taking chances. they're worried the economy will turn south. they're willing to stand pat rather than hire any time soon." sectors with the fewest layoffs include construction, retail, electronics, industrial goods, healthcare and government - the last two, healthcare and government, partly due to the ramping-up of obamacare. "they are hiring to create a cost-savings program for government to improve cost- efficiency. they hope to achieve a $400-million savings for an $80-million cost." for the year, the biggest reasons for layoffs were tied to company restructuring and closing of facilities. the deep political divide over whether to raise the debt ceiling is the next issue out of washington that could stall out business on wall street. republicans are vowing to use t
FOX News
Jan 6, 2013 10:00pm PST
going to be an in-your-face term. i'm not going to talk about the debt ceiling. we have yet to cut one dime from the last debt ceiling agreement and now here it's time. we've got to stop the madness. >> democratic congressman says it's quote, reckless and irresponsible not to pay bills that are due. >> molly henneberg, thank you. after decades of service to our country, this former general could be found in civilian clothes, not necessarily by choice. general stanley mcchrystal talking about what cut his career short and the man who become the 37th u.s. president was born in a house. the richard nixon library and museum has a plan for the centennial. we'll go live there for the details. ♪ people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i kn what i could save before i switched to progressive. the better i drive, the more i save. i wi our company had something this cool. you're not filming this, are you? aw! camera shy. snap
CNN
Jan 12, 2013 6:30am PST
columnist of the daily beast and mayaguinness. maya, should the debt ceiling be the place to argue about spending cuts? >> in the past, the debt controlling has been used responsibly, to help us push for making changes to the budget when we're on an unsustainable course. can you kind of think of it as a speed bump. we would hit the debt ceiling, be reminded we're borrowing too much. they would fight about raising it and then they would raise it. what happened last time, i think, was throwing cold water on to the system of how close we got to truly defaulting and the fact that that will lead to economic problems in the country and around the world. >> republicans almost gleeful that the debt ceiling will give them leverage to extract spending cuts. is this good policy or is it revenge? is it a speed bump, or is this somehow -- is it political? >> tees taes deeply political, cycle of revenge and recrimination. it's the definition of insanity, doing something over again and expect i expecting a different result. we got our aaa rating downgraded. in retro expect, they realized that grand bargain -- spending cuts
MSNBC
Jan 12, 2013 4:00am PST
any hint at all before we hit the debt ceiling, that they would consider any other option. >> for republicans' part, they say they won't raise the debt ceiling without spending cuts. can the president just go around them? >> the leverage disappears if the president goes around them. the president isn't saying he's willing to do that and says the debt ceiling must be raised and that's because the debt ceiling represents spending that is already appropriated by congress. republicans say they want to trade it dollar for dollar, every spending cut has to be measured by the increase in the debt ceiling, but there is already some weakening republican ranks about whether they will go through. forcing a dae fault on the debt would be catastrophic to the country. it's very hard to hold that up as a hostage. >> we look at march 1st as a drop dead deadline. but you write that the government will be unable to pay its bills sometime between february 15th and march 1st. what does changing the timetable do to things? >> we don't know an exact date. that date from the bipartisan policy center, basically measuring the cash flow to the government. we're in an uncertain season, where we
WHUT
Jan 4, 2013 6:00pm EST
looming showdown over the debt ceiling and possible spending cuts delayed under the fiscal cliff deal. john boehner addressed the debt thursday in his opening speech. >> as speaker, i pledge to listen and to do all i can to help all of you carry out your oath of office that we are all about to take. because in our hearts we know it is wrong to pass this debt onto our kids and grandkids, now we have to be willing, truly willing to make this problem right. >> house speaker john boehner faced a massive backlashes week after initially canceling a vote on relief for superstorm sandy. the house is expected to vote on the first round of aid today. gun-control advocates introduced legislation on the first day of the new congress to ban high- capacity ammunition magazines in recent -- used in recent massacres including the one at sandy hook last month. carolyn mccarthy of new york said the assault magazines help put the mass in that shooting and anything we can do to stop their proliferation will save lives in america. she lost her husband in a shooting on the long island rail road. she introd
FOX News
Jan 6, 2013 11:00pm PST
to cut one dime from the last debt ceiling agreement and now here it is time to do it again. we got to stop the madness. this is the 18-year-old kid on the credit card and they maxed out the credit card. instead of cutting it up and putting them on a budget barack obama says give us a new credit card and by the way, harry reid you don't have to pass a budget in three years. this is crazy. >> would you support this year letting the debt ceiling deadline last? >> what i won't support is not dealing with the problem. americans sent us here to deal with the problem. the way this town works this fiscal cliff deal the only winners in the fiscal cliff deal were washington. they got more money. the folks i represent in the fourth district of ohio they lost revenue, small business owners had money taken from them. washington always wins and the politicians and consultants and folks here always win. 7 of the 10 wealthiest counties in the country are in the d.c. area. mr. van hollen represents one of those. this area regular americans lose and it is about time we said stop this madness and cut
CNN
Jan 12, 2013 10:00am PST
our elected officials don't put major blocks in your way. i'm ali velshi. debt ceilings, budgets and spending cuts are all you'll hear coming out of washington for the next few months. the partisan warfare in washington could put a dent in any recovery. the threat is real. the next battle will be another clash over raising the u.s. debt ceiling. the current ceiling was officially hit on december 31st, but like last time the u.s. treasury is using extraordinary measures to get through about late february or early march. if congress doesn't act by then, the government risks not being able to pay some of its bills. republicans seem to think the debt ceiling is a useful tool to limit how much the government spends, but that is not what the debt ceiling law is supposed to do. it gives the u.s. treasury the flexibility to borrow money to pay the government's bills without going to congress to get approval every single time. it has nothing to do with spe spending or debt control. you might want it to be about spending control like i'd like to be in "people's" list of 50 most beautiful people. wishful thinkin
CBS
Jan 4, 2013 7:00pm EST
cuts and the debt ceiling will mean for hiring. companies continued adding jobs even with the uncertainty over the fiscal cliff. and, many economists believe firms will increase payrolls this year in spite of the debt ceiling debate. >> i don't think that the spending cuts will be as significant headwinds for the u.s. economy because these spending cuts are made over ten- year period. there won't be a significant amount of spending cuts that will take place in 2013, so that's why i think it's less of an issue. >> reporter: still, there's ample concern about what the expiration of the payroll tax cut will mean for spending and ultimately hiring. don't forget all americans will see a smaller paycheck this year, because of that change. >> consumers aren't well poised to absorb a 2% tax increase and nonetheless that's what's going to happen, and it's going to keep us stuck in this slow growth territory. >> reporter: and, slow economic growth makes companies less confident about adding new workers. as a result, it is widely predicted that this year will be another period of only mo
FOX News
Jan 7, 2013 12:00pm PST
us. republicans and democrats say they want to avoid reaching the debt ceiling deal at the last minute like we saw with the fiscal cliff fiasco and seems like everything in recent memory. republicans are saying they want spending cuts attached to some deal and democrats say spending cuts should be a different issue. >> if you raise the debt ceiling by a dollar, cut spending by a dollar. that is the way to go forward and we need a budget. our democratic friends haven't passed a budget in three years. >> the debt ceiling is about spending that has already occurred. you are going to say i'm not going to pay my bills unless you stop being stuff? well, then stop buying stuff so you don't have future bills but right now we have to pay the bills that have been incurred. >> shepard: the president said on saturday that he will not compromise over raising the debt ceiling. won't even put that on the table. shannon bream with the news live in washington this afternoon. how you is this strategy work out for republicans, shannon? >> shannon: the president says if they refuse everyone from business owners to average americans will suffer but republicans are calling his bluff saying the debt ceiling gives them leverage that will force dem
MSNBC
Jan 6, 2013 11:00am PST
. i want to come back to the question. it's a hostage that's worth ransoming, the debt ceiling of the united states government. is that the strategy that you would ransom that here again to force the kind of spending cuts that you think are necessary? >> it's a shame that we have to use whatever leverage we have in congress to get the president to deal with the biggest problem confronting our future. and that's our excessive spending. >> but you're conceding that that may be the strategy this time? >> well, what the strategy ought to be is we ought to be doing something about the problem. >> well, i understand that. but there are additional problems as well that flow from that. as you know, after the debt ceiling was resolved in the summer of 2011, america's credit rating was downgraded. john ingler was the republican governor of michigan and said the following. he said this is to bloomberg news. it's a terribly blunt, clumsy instrument to try to use. it's not a good weapon for anything except destroying our own credit rating. so i understand your views about spending, and we can continue on that. but just as a matter of how you try to force those spending cuts, you heard the president. he said he will not
NBC
Jan 4, 2013 4:30am PST
not to raise the debt ceiling again unless congress cuts spending. >> the first step in this debate is for democrats to get over their fanatical commitment of spending every dime the government got its hands on. it has to stop. >> a future budget agreement must balance thoughtful spending reductions with taxes on the wealthiest among us. >> reporter: it is expected to hit its borrowing limit again in february, another fiscal cliff, round two, begins today. also on their agenda overhauling the tax code. tracie potts, nbc news, washington. >>> futures are down slightly ahead of big economic numbers due out today. toyota and audi want to let your car doing the driving for you. for more on that and the rest of your news before the bell, we turn to brian shactman live at cnbc world headquarters. good morning. >> reporter: good morning. futures have improved a bit. basically flat ahead of the big economic report of the day, the december jobs number. analysts expect another month of slow but steady growth but not enough to call it a turning point for the economy. forecast call for 160,000
Current
Jan 3, 2013 5:00pm PST
this problem right. >> eliot: with rest of house conservatives threatening to hold the debt ceiling hostage to force cuts in social problems, gridlock appears to be underway. for more on the state of the house, i'm joined by congressman jerry nadler, a good friend and congressman from new york. congratulations on starting this process all over again. good luck. >> thank you. we'll need it. >> eliot: you will, indeed. it was striking at the end when the fiscal cliff vote did occur. speaker boehner did something that some people actually admire. he brought the bill to the floor and got it passed with 85 republican votes and lot more democratic votes. what does that portend, do you think, for legislating as we go forward? is this the unique example that will somehow be the outliar or does this suggest some sort of convergence of interest is possible? >> i don't know. if we're going to get any kind of deals done that will stop government lurching from crisis to crisis, we're going to need to put together coalitions of democrats and republicans and you won't be able to allow the 75 or 100 hard right tea party ty
CNN
Jan 5, 2013 4:00am PST
lot of big issues ahead of you. you have the federal deficit, spending cuts, debt ceiling. if the last congress had so many challenges producing a bill to avoid the fiscal cliff do you think this congress will be more productive and if so why? >> you know, i think that remains to be seen. i think that, again, that congressmen need to hear from their constituents and people need to know that, hey, we sent you guys up there to get to work. we mean business. stop all of the partisan bickering. of course, republicans and democrats are always going to have differences on issues. but things of this nature that could cause economic catastrophe, those sorts of things, we should be able to work a lot easier on and that's why i'm up here. i want to work with my republican colleagues. i've reached out to all of my republican colleagues in the north texas area to let them know i want to work with them and i will continue to reach across the aisle, all across the congress working with republicans because i know that it is very important that we do a better job of working together. >> i want to
MSNBC
Jan 5, 2013 2:00am PST
isn't going to have a debate with us over the debt ceiling. he also says he's not going to cut spending along with the debt limit hike. and then citing a poll conducted by republican david winston, boehner said, 72% of americans agree any increase in the nation's debt limit must be accompanied by spending cuts and reforms of a greater amount. the debate is already under way. number two, texas senator john cornyn took that fighting spirit even further threatening a partial government shutdown. he said in an op-ed, the coming deadlines will be the next flash points in our ongoing fight to bring fiscal sanity to washington. it may be necessary to partially shut down the government in order to secure the long-term fiscal well-being of our country rather than plod along the path of greece, italy, and spain. president obama needs to take note of this reality and put forward a plan to avoid it immediately. finally, pennsylvania republican senator pat toomey voiced the same sentiment earlier this week on "morning joe." >> our opportunity here is on the debt ceiling. the president has made it ve
MSNBC
Jan 6, 2013 4:00am PST
. the president says he isn't going to have a debate with us over the debt ceiling. he also says he's not going to cut spending with along with the debt limit hike. citing a poll by david winston says that any increase in the nation's debt limit must be accompanied by spending cuts. texas senator john correspond anyo cornyn threatened a partial government shutdown. the coming deadlines will be the next flash points in our ongoing fight to bring fiscal sanity to washington. it may be necessary to shut down the government in order to secure the long-term fiscal well-being of our country, rather than plod along the path of greece, italy and spain. president obama needs to take note and put forth a plan immediately. and pat tume voiced the same sentiment in week earlier on "morning joe." >> our opportunity is on the debt ceiling. the president made it very clear. he doesn't want to have a discussion about it, because he knows this is where we have lev range. we republicans need to tolerate a temporary partial government shutdown which is what it could mean and insist we will get off the road to greece. >> i don't
FOX
Jan 6, 2013 5:00pm PST
more than $1.3 million a year to pay 75% tax. >>> a debate over the debt ceiling is heating up. >> people say i'm not going to pay my bills unless you stop buying stuff. well, stop buying stuff so you don't have a future bill. >> the fight on capitol hill over spending cuts. >> and the new legislation aimed at preventing mass shootings. >> and a massive brawl at a louisiana mall. ♪ [ female announcer ] no more paper coupons. no more paper lists. [ dog barking ] ♪ no more paper anything. safeway presents just for u. ♪ save more. save easier. saving more, starts now. just for u on the safeway app. . >>> the so-called flash mob in louisiana this weekend ended in a millionee and emptied an entire shopping mall in baton rouge. according to witnesses about 200 young people gathered in the mall's food court and apparently answering a notice on a social website. a fight broke out and people started to run and jam exits. there were reports of arrests, but no reports of serious injury or damage. >>> president obama faces a full agenda as he returns from vacation. the president and first lady returned to washington today from hawai'i. among his top concerns nominations for secretary of defense, secretary of state and treasury as well as budget battles over delayed sp
NBC
Jan 6, 2013 4:00pm PST
some pretty significant spending cuts in the debt ceiling deal, right? >> yes. so we're going to have to resolve what was left untouched, which is the spending side. and hopefully there will be an agreement on long-term and medium-term reforms on the spending side. so that we can focus on other things. >> what about the federal reserve, that was also in the news, the fed releasing the minutes this week. there was word that a number of members of the fed wanted to stop this bond buying program, this so-called quantitative easing, at the end of this year. i mean, here we've got spending cuts, we've got uncertainties in the economy, and the one stimulus that everyone has been really looking forward to, the federal reserve stimulus, is now being threatened to come to an end this year. >> yes, so the market got worried, uh-oh, maybe the market is not as worried about qe as we thought. i think that's the wrong interpretation, maria. what we think is more likely is that certain members on the fomc are putting the market down. they are reminding others, including the politicians, that there a
CNBC
Jan 4, 2013 7:00pm EST
roots but he doesn't have a list of things to cut yet. you have two months until this debt ceiling fight. to actually cut something. >> he is is going to run through the budget process. so really paul ryan is going to be back in the driver's seat. sarah, after the horrible tax argument which republicans mostly lost, maybe not as bad as it could have been, has the republican party had a burning bush experience now regarding spending and debt? >> well, i think -- look, i take a different view on boehner. he had a tough hand, he played it best he could. but now, republicans are in the driver's seat. and on this debt limit, there is no reason for them to not fight until the very last day to get at least a dollar of spending cuts for every dollar of debt ceiling increase. >> that's the boehner rule. >> that's the boehner rule. he has been very consistent that he's going to stand by that rule. >> jimmy williams, the democrats don't want to cut anything. they'll oppose the sequester spending limits and they wouldn't even have a measly cost of living adjustment. so sarah may be right on this. the republicans are in the dr
PBS
Jan 8, 2013 12:00pm PST
for him because now the republicans have the potential of using the debt ceiling and possibly the sequester, these automatic budget cuts that will start taking effect in march, to really force big spending cuts and if obama doesn't agree potentially it will cause him substantial economic damage. >> rose: austan, i've talked to people who are wonderful negotiators and they always say to me "you've got to give the other guy something, it's never, never i win-you lose." did the president make a mistake by not at least giving republicans some spending cuts that they would have been able to take home? >> i don't know if i totally agree with that in this circumstance in that they -- the democrats moved on what level the higher tax rates were going to apply to. it strikes me that we've got a weird negotiation which is -- let's call it a multiyear negotiation where i think we all hand in our heads two years ago last year and even coming into now that there would be some negotiated grand bargain with some revenues and some cuts. and instead it seems like the way it's playing out is the original debt ceiling fight, we got a bunch of
PBS
Jan 4, 2013 6:30pm PST
unemployment. >> reporter: the worry now is what wrangling in washington over spending cuts and the debt ceiling will mean for hiring. companies continued adding jobs even with the uncertainty over the fiscal cliff. and, many economists believe firms will increase payrolls this year in spite of the debt ceiling debate. >> i don't think that the spending cuts will be as significant headwinds for the u.s. economy because these spending cuts are made over ten- year period. there won't be a significant amount of spending cuts that will take place in 2013, so that's why i think it's less of an issue. >> reporter: still, there's ample concern about what the expiration of the payroll tax cut will mean for spending and ultimately hiring. don't forget all americans will see a smaller paycheck this year, because of that change. >> consumers aren't well poised to absorb a 2% tax increase and nonetheless that's what's going to happen, and it's going to keep us stuck in this slow growth territory. >> reporter: and, slow economic growth makes companies less confident about adding new workers. as a res
FOX News
Jan 7, 2013 3:00pm PST
ceiling and sequester cuts. today an interview that raised eyebrows all over the city especially among republicans. correspondent shannon bream reports on the inside look on president's spending. >> with the last fiscal deal they are gearing up. as one of the key players talk about what happened the last time around. in an interview, house speaker says, quote at one point several weeks ago the president said to me, we don't have a spending problem. boehner says he was stunned and repeatedly push the issue with the president. he says mr. obama grew irritated and said i am tired hearing you say that. there is no give to the president's advantage and he won't hold any more closed door meetings with the president because he called it futile. the president vowed there will be no debate whether to raise the nation's already exceeded debt ceiling. a key thing that republicans will give them much better positioning as the u.s. hovered dangerously close to the fiscal cliff. the two sides don't agree whether tax revenue is settled. republicans say having given the president hundreds of billions
CSPAN
Jan 9, 2013 5:00pm EST
separately from the debt ceiling and cuts too deep or aimed # at the wrong program, she says, "hurt the nation in crucial areas like education, technology, science, and energy." what's on the table for cuts? no social security, no medicare, the major drivers of benefits, but are the drivers of debt and deficit. what's on the table for spending cuts? >> guest: okay. there's a lot of questions there. >> host: right. >> guest: first of all, you know, the major drivers of the current deficits are two things. tax cuts for the wealthy and wars in iraq and afghanistan. this has been well documented by economists. let's not pretend like grandmother is responsible for the deficits. she's not. i promise you. yeah, you know, what would define a spending cut, again, cutting the amount of money that would pay for prescription drugs. getting the same drugs for $130 billion cheaper by untying medicare and medicaid's hands and lay low them to negotiation. that's a cut to save money, impacting the big guy, not the little guy. you know, if we sub subsidize ie name of family farmers, agriculture corpo
FOX News
Jan 5, 2013 1:00pm PST
use the debate over raising the nation's debt ceiling to try and force government spending cuts but even as former budget director say that republicans are more likely to have more leverage. the problem is the president sees it threatening to not paying bills could raise the cost of borrowing money and a genuine u.s. government default could trigger a global recession. >> congress refuses to give the united states the ability to pay its bills on time, consequences could be catastrophic. last time coming threatened this course of action, our entire economy suffered for it. our families and businesses cannot afford that dangerous game again. >> reporter: congressional budget office passed a bill to avoid the fiscal cliff still leaves $900 billion a year in deficits. republicans say by raising taxes on the wealthy they have ended the revenue debate but president says reduces the deficit requires a spending cuts and increased revenue cuts from reforming the tax code. they do agree it does need reforming. >> the irs tax code is too complex, too costly and too unfair. there is something f
PBS
Jan 4, 2013 1:00am PST
we hit the debt ceiling and when the automatic spending cuts come into play again, and either have to be replaced with other spending cuts, or again, kicked down the road. >> reporter: these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. and, the fact of the problem of $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter:
CNN
Jan 6, 2013 2:00pm PST
is the time talk about cutting spending. we are not going to raise this debt ceiling without a one-to-one corresponding spending cut. the number two democrat in the senate said i will talk about anything, but i don't want to do this last-minute stuff. republicans are saying we are done with tax hikes, that was done in the fiscal cliff deal. we are not doing any more tax hikes. senator durbin says there are more tax hikes probably looning out there for the wealthy. this may sound very familiar 'cause it's pretty much the same argument they have been having around other fiscal issues for two years. >> right. but it could be a more fervent one. we will see. >> yes. yes. >> kansi crowley, as always, a weather. >> thanks, martin. >>> the president is also expected to fail couple other key cabinet posts. already said that senator john kerry is his pick to replace hillary clinton when she steps down as secretary of state kerry has support among republicans and he should, underline should, have a relatively easy ride through its confirmation process. white house chief of staff jack lew is considered to be a front-runner for tre
CNN
Jan 5, 2013 3:00pm PST
, raising the nation's debt ceiling, dealing with what is called that sequestration, the automatic spending cuts and domestic spending cuts and national security. and also continued resolution to keep the government operating. how would you deal with the crisis points in order to deal with what you want, which is the big picture and really getting to the bottom of this whole issue? >> for god's sake, i wouldn't wait until the last minute. we have had enough of this brinksmansh brinksmanship, this moving from crisis to crisis. that is a foolish way for any organization, small or large, much less the u.s. government, the largest economy in the world to run its organization. here is what we got to do. we have got to do -- make the tough decisions. and we're -- you know, we're only about half way there of the things we have to do. we have got to make sure we reform our tax code, broaden the base, simplify the code, get rid of some of this back door spending in the tax code. we have got to slow the rate of growth of the tax code, if we don't slow the rate of the health care, it will bankrupt the company.
NBC
Jan 3, 2013 5:30pm PST
like raising the country's borrowing limit, the debt ceiling, and dealing with spending cuts that could include negotiations over programs like medicare. lester? >> all right, kelly, thanks. >>> one new member of congress, the junior senator from the state of maine, is already making a name for himself. tom brokaw is here tonight with more on a man who says he wants to do the people's business in a better way than we've seen lately. hi, tom. >> lester, we don't often think of maine and royalty in the same sentence. but tonight i am reporting on the king of maine. that would be angus king, near republican or democrat, officially independent. a former two-term governor, he promised a new approach. and it paid off. >> i do. >> my favorite line from the campaign is a guy up north who said "all my life i've wanted a chance to vote for none of the above and you're it." >> it's been difficult to envision this day when i would be saying farewell -- >> reporter: king is replacing olympia snow, a respected republican senator who quit in frustration over washington's deadlocked ways. >> she said,
FOX News
Jan 10, 2013 3:00pm EST
everybody knows is coming. the first thing lew will do, the debt ceiling standoff, budget cuts, the same battle we have been hearing about and everythinges posturing for that. >> shepard: the signature aside -- i'm bored with the signature item -- there's never been much opposition or crying about jack lew before? >> he is almost a cipher to people outside of washington. he has been a washington insider and obama would be happy to have a guy who can get through without a lot of controversial because he will have a fight over chuck hagel. already pulled susan rice. so jack lew has worked with everybody on the hill, republicans and democrats, that's where the came from-spend the early part of his career. everybody knows him, a touch negotiator -- a tough negotiator. >> shepard: a very big player with a lot of work to do. you talk about what's coming up in march with the debt ceiling fight. the president already said he is not negotiating. >> of course and the republicans have drawn a line in the sand. so we have the starting point. now we have to see if either side is going to meet in the
FOX News
Jan 6, 2013 1:00pm PST
at all about the debt ceiling. we've yet to cut one dime from the debt ceiling agreement and now time to do it again. we have to stop the madness. >> molly: chris van hollen it's reckless and irresponsible not to pay bills that are due. >> jamie: thanks, molly. >> gregg: president obama signing that $9.7 billion super storm sandy aid bill into law. it increases the federal emergency management agency's borrowing. fema had warned it would run out of funds if congress didn't step in to help soon. a larger and more comprehensive aid package still in the air. john boehner voting to on it next week. >> jamie: a rare public appearance of assad addressing torn nation. for first time in six months. leland vitter has more. >> this speech is a combination of the same old, same old, all the rebels are terrorists. we're going to continue to fight and win this war, but it also provided a little bit of diplomatic cover not only for the syrians but also for their allies so the russians can now say, look, assad offered a peace plan and rebels won't talk. they would call it optics and they are importa
MSNBC
Jan 7, 2013 7:00am PST
go back to the debt ceiling for a second. republicans are saying no more revenue. only cuts. then listen to this. >> is the revenue side of it taken care of yet? >> no, it is not. the president had said originally he wanted $1.6 trillion in revenue. he took it down to $1.2 trillion as a compromise. >> certainly underscores the voracious appetite for more taxes on the other side. the tax issue is over. we resolved that a few days ago. >> can the democrats go back and say we're not done with taxes? >> they can try. what they'll try to go after is deductions, right? there's an offer by john boehner previously and mitt romney was talking about this, let's limit deductions of people of a certain class or certain wealth so that we can take some of that revenue back. i presume that's what the president will go after. i don't think he's going to get very far. the republicans have more leverage in this debate than they did in the previous one. because they do have to approve raising of the debt ceiling. they don't want to shut down the government because they will be blamed, of course. but
FOX News
Jan 5, 2013 4:00pm PST
the debt ceiling without negotiations. senior affairs, white house correspondent starts with this. the president has warned congress several times not to tie the debt ceiling talks to spending cuts. is he persuading any republicans? >> doesn't look like it, shannon, because they are shaping up for another fight in a matter of weeks. technically the government ran out of money the end of the year. secretary treasure geithner said he can buy us a couple months with creative accounting moves. the president said even though he signed the legislation, its up to congress to find a way to pay for the bills it incurred. >> congress refuses to give the runs the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. the last time congress threatened this course of our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> the president said he signed a bill last year that cut $1.7 trillion from the deficit. republicans say much of that was really paper cuts, amounting from reducing -- or winding down the war in afghanistan and ending the war in iraq. shannon. >> all right. wendell, what do th
MSNBC
Jan 6, 2013 12:00pm PST
position today. >> if you raise the debt ceiling by a dollar you should cut spending by a dollar that is the way to go forward. >> president obama insists he will not compromise raising the debt ceiling and said any future efforts to reduce the deficit must include a combination of higher revenues and spending cuts. joining me to talk about it jake sherman. senior editor for the new republic. noam wrote a book called "the escape artist." the president has declared that he will not negotiate over whether to raise the debt limit. why don't you believe him? >> well, i don't believe him for sort of practical reasons and partly for the history of his negotiating style. the practical reason is we have a couple of things coming up that he is clearly going to negotiate over, one of which is the sequester, the automatic spending cuts that they delayed for two months when they did the fiscal cliff deal. that is going to expire late february and early march. it is hard for them to say we are going to negotiate but don't call it a debt ceiling negotiation. we'll just call it a sequester negotiation.
FOX Business
Jan 7, 2013 10:00pm EST
raise as much as $1 trillion in new revenue as we near the debt ceiling. the prospect of sequester cuts obviously facing us. the export -- expiration of funding. joining us now, republican strategist and a former political director, former fox news contributor. good to have you here. he says there is not a problem with israel or his record on iran. he is a good fellow ready to do a good job. >> i was struck by the president's language in nominating him, saying that he represents bipartisanship. of course, what the president means is he is a republican agrees with me. the problem is, he has no support among republicans, and i ink a lot of democrats will be troubled by some of the things as the said. he is going to have to put up the good fight for himself to when this. lou: are you surprised. the newly elected senator from the grace to the texas who is sort of out there even ahead of the other senator from texas, hn corning, just running away with this nomination. >> he is a very effective guy. he beat the establishment candidate in texas. a tremendous campaigner and will be there for a long time
FOX News
Jan 8, 2013 1:00pm PST
spending or other budget cuts in exchange for raising the debt ceiling. now some republicans are saying, how about we just ask for a budget? the congressional budget act of 1974 requires that congress pass a budget every year by april 15th. harry reid last allowed a budget to be passed in the senate in april of 2009. as you ed said earlier that is 1350 days ago. the reason is clear. the budget that was passed passed by a big democratic majority had highly elevated levels have spending. by not passing a new budget they of made the spending the new baseline. they really don't want to change that. they haven't passed one. they funded the government by passing a series of continuing resolutions since then. >> neil: are they breaking the law? >> they are. the law does require congress to do this. i have to say, after i published this article in the washington examiner. i got tons of e-mails, gee, if it's the law and harry reid is breaking it can't they do something about it? the law was written and it's a requirement and it has no enforcement provision. it has no teeth in it. harry reid is v
FOX News
Jan 6, 2013 7:00pm PST
are. and this is going to be used, the debt ceiling is going to be used to get cuts. mitch mcconnell has said something similar. so you have the president saying one thing, but those in the house and senate, the republican leaders, saying something completely different. >> shannon: yeah, they think this is going to be all about spending ab that's the comfort. house minority leader nancy pelosi saying hey, we're not done talking about revenue, there could be tax increases with part of this negotiation. >> and the president himself said in the midst of the fiscal cliff deal when it looked like a deal, that this does not end the tax debate, but the the republicans say, that you know, there's 80 trillion dollars in unemployment liabilities no matter what you do in taxes, that's not going to solve where the problem is, which is medicare, social security, and medicaid, entitlement reform and they gave in, they thought on raising taxes and revenue and want to focus pretty much exclusively on entitlement spending. >> jamie weinstein, it's going to be an interesting couple of months in washin
KRON
Jan 6, 2013 8:00pm PST
session under pressure to avert another financial crisis -- this time over raising the debt ceiling. if an agreement isn't reached by late february or early march, the united states risks defaulting on its financial obligations. the argument this time around will be over how much congress will agree to cut spending. >> "the bottom line is we can't continue down the path we're on of borrowing money to pay our own debt with, and we've got to have serious spending cuts. we've got to have dollar for dollar within the same year." >> reporter: but key democrats say the debt limit and spending cuts are not related, and a deal based on a dollar-for-dollar offset could further damage the country's credit rating. >> "you're going to say i'm not going to pay my bills unless you stop buying stuff? then stop buying stuff so you don't have future bills. but right now we have to pay the bills that have been incurred. if you want to say cut spending for what we do next, fine. but don't tie it to the debt ceiling." >> "a big part of balancing this budget is in fact getting people back to work. that balances us twice, so that's another big piece of it." >> reporter: president obama has said he will not negotiate with congress on whether they should pay their bills. some republicans are now criticizing his fiscal
CNN
Jan 4, 2013 11:00am PST
debt ceiling as leverage to get the spending cuts that they so desperately want and many say this country needs, what is that going to do for uncertainty and jobs in 2013? >> jumping off the fiscal cliff is nothing compared to blowing through the debt ceiling. here is why. the fiscal cliff was something created out of congress. it was sort of a manufactured crisis. now, the debt ceiling is for real. we come up against a borrowing limit and the government has to stop paying bills and it is a blunt instrument. i don't think either side wants to blow through the debt ceiling. i think we have to take a little bit of this blusterer with a grain of salt. what we want to take away from this whole period of time. when the government cuts spending it has a negative impact on growth. in the short run it hurts growth. if you look over in europe and austerity measures and governments pull back not so good for economic growth. when we say we want to fix the debt and deficit we have to be careful how soon and how quickly it occurs. >> kind of like after the holidays when you are feeling a littl
FOX News
Jan 5, 2013 9:00am PST
increases . so now we have leverage when it comes to the debt ceiling and to the cr and sequestitration we can talk about spending cuttings. let president has more money in the general treasury . now we need to focus on spending cuts and that's where the republicans are unified. we have talked about that two and half yearings. >> we have a big debate coming up. we'll keep close watch on it >> thank you. >> thank you very much . now to fox newings alert. authorities are saying that four poom are dead including a gunman after a hostage stand off in aurora, colorado. they received reports of shots fired in a town home. after a stand off lasting hours. the suspect shot at a swat team. officers returned fire and killed the gunman. it looks like the three victims were killed before the officers arrived on the scene. another person was in the townhouse and escaped uninjured. food and drug administration proposes more regulation. they are submitting food safety plants and new safety standard for farmers to guard against produce contamination. harpeds have to be warked and irrigation water clean and animals must be kept out of the fiel
FOX Business
Jan 8, 2013 11:00pm EST
: at around the same time, the debt ceiling, that is where they think the democrats fail and the republicans are in a corner. so the republicans can risk of grabbing the feed defeat from the jaws of what would appear to be this problem. >> as you remember, it was midway through 2011. 1.5 years years ago. the president of the united states said he was going to drive us off the edge of the world. neil: to be playing it fair, he has been playing it more cleverly than the republicans. >> you are comparing the fiscal cliff where the president had all the power. >> i am comparing 2011 and the way he played an extended all the bush rates. perhaps he feels cocky. i feel like noster dominus. >> now that his job is secure, he is raising taxes. neil: democrats seem to say that we are to put you put you in another boxer and if it were up we are going with a. >> two things the sequester, which isn't on $1.2 trillion cut in the budget is not -- [talking over each other] [talking over each other] >> remember that timothy geithner said that the debt ceiling was january 31. just trying to mesh th
CBS
Jan 3, 2013 6:00pm PST
shutdown and battle over the debt ceiling and automatic spending cuts. former republican congressman jim nussle says this new crop has a tough job. >> what just happened with the debt and the deficit and the taxes, that doesn't go away. >> reporter: democrats still control the senate. and republicans the house with the same leaders returning. >> we're sent here not to be something but to do something. [ applause ] >> reporter: kildee says he's up for the job. >> while it's daunting, this is what i'm ready for. i'm here to work. >> reporter: his first major vote will be friday when the house takes up part of the superstorm sandy relief package. danielle nottingham, cbs news, washington. >>> did you change something? >> drivers with one thing in common. how the dmv says they make our streets more deadly. >> is tuition going up all the time? why some california students might be able to pay a flat rate for a college degree. ,,,,,,,,,,,,,, driving. the research released todayy th shows men >>> here is something that may startle you. one in 24 drivers admits to nodding off while driving.
KRON
Jan 6, 2013 11:00pm PST
time over raising the debt ceiling. if an agreement isn't reached by late february or early march, the united states risks defaulting on its financial obligations. the argument this time around will be over how much congress will agree to cut spending. >> "the bottom line is we can't continue down the path we're on of borrowing money to pay our own debt with, and we've got to have serious spending cuts. we've got to have dollar for dollar within the same year." >> reporter: >> reporter: but key democrats say the debt limit and spending cuts are not related, and a deal based on a dollar-for-dollar offset could further damage the country's credit rating. >> "you're going to say i'm not going to pay my bills unless you stop buying stuff? then stop buying stuff so you don't have future bills. but right now we have to pay the bills that have been incurred. if you want to say cut spending for what we do next, fine. but don't tie it to the debt >> "a big part of balancing this budget is in fact getting people back to work. that balances us twice, so that's another big piece of >> reporter: president obama has said he will not negotiate with congress on whether they should pay their bills. some republicans are now criticizing his fiscal le
Current
Jan 7, 2013 6:00am PST
is asked whether they were going to hold the debt ceiling ransom in exchange for spending cuts. mcconnell says it is a shame we have to use whatever leverage we have to get the president's attention. it's incredible. >> rush his calls -- return his calls. >> stephanie: lindsey graham did not dismiss a partial shutdown of the government. john cornyn said the same thing. floated the idea of a shutdown to win deeper spending cuts. >> spending cuts on what? on what? on social security benefits and medicare benefits. always seems to come back to that. social security system which has been operating from profit every single year since it was created, the medicare system solvent for another eight years and somehow they need to be cut cut, cut cut cut. they claim they want to save these things when in fact, they just want to destroy them. >> stephanie: chris van hollen, our friend your colleague said republican strategy is to give us what they want or we're going to tank the united states economy. >> the sequester strategy is the same thing. they're cutting air-traffic control by 9%. air-traffic
CBS
Jan 3, 2013 7:00pm EST
a couple of months from now probably in late february, early march, when we hit the debt ceiling and when the automatic spending cuts come into play again and either have to be replaced with other spending cuts, or again, kicked down the road. >> reporter: these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. that's scary. and, the fact of the problem of $2 trillion solutions to $60 $2 trillion solutions to $60 trillion problems, you see the occasion of the lack o
FOX Business
Jan 8, 2013 8:00pm EST
ago. the president lost, but likins won on the question of if we wanted to raise the debt ceiling because obama is overspending. you have to cut spending dollar for dollar by the same amount. speaker boehner has reiterated that that is enough. so has mitch mcconnell. the president of united states can stand up and say that i lied to you and i said i wanted to reduce running. i like you, and i said i was going to offer government reforms. but if he does that, i think he isn't is in a very weak position and democrats are killing themselves if they think that the american people want to continue overspending. and the debt that obama is running out. we can give the president a month of debt ceiling increase or six months or year. then you have the continuing resolutions. because the democrats have not passed the budget or written a budget in more than three years, we have a continued resolution. beyond your points are very good. thank you. neil: they say no deed goes unpunished. did you hear about aig? it just keeps on suing. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello?
MSNBC
Jan 12, 2013 1:00pm PST
, considering the boehner rule, trying to get a spending cut for every dollar for the debt ceiling? >> well, there will be rules and demands but i think the discussion about the trillion dollar coin shows how cheesy things can get. we have a situation where we have this discussion, kind of discussion and you it's a kind of thing that really makes you wonder about the dignity of the united states government. >> is the president there, bob? is that hail to the chief? >> guess who didn't turn off his phone. >> and now we know your ring tone. robert, last question to you. the debt ceiling. >> it's a great question. i think republicans are manning the barricades, they are going to the demand spending cuts. we know that the president said that he will not negotiate with house republicans as this debt ceiling approaches. remember, represents are under political pressure, especially the speaker of the house. because republicans are frustrated about how the fiscal cliff went, to now they are looking at the debt ceiling. >> we will watch and see, i love that we got to find out that bob frank
CNBC
Jan 7, 2013 9:00am EST
the debt ceiling and spending cuts. the big debate over whether more revenue increases should be on the table. >> the tax issue is finished, over, completed. that's behind us. now the question is, what are we going to do about the biggest problem confronting our country and our future. and that's our spending addiction. >> mitch mcconnell's going to draw that line in the sand. it's going to be a recipe for more gridlock. we have to take a balanced approach to long-term deficit reduction. >> and away we go again. jim, you said last week, you expect a see-saw quarter courtesy of these guys. >> it's so funny to hear the democrats say, it's time to think about taxes. that's kind of what they won on. senator mcconnell, i know that over a decade, i have felt opposition to -- he used to come on cramer. he was always, let's say volatile. how could he not be right now -- the entitlements are the issue. this is the united states of america. and someone's got to rein it in. no one wants to, because boy, once you do that, i've got a biotech company on tonight that wants to charge $300,000 for a
FOX News
Jan 11, 2013 4:00am EST
again to raise the debt ceiling. most republicans will oppose that acting for definite spending cuts before more borrowing. does the president care? >> the only viable option here is congress to fulfill -- that congress fulfills its responsibility and ensures that the united states of america pays its bills as it has always paid its bills through the its history. >> bill: just shut up and pay. all right? don't be asking for anything, just pay. it's mr. obama's way or the highway. again, he could use an executive order to ignore the debt ceiling and i will not be surprised if he does. so, what we have here is not a failure to communicate as they once said in the movie cool hand lou. but a president who believes he can do what he wants to do with little accountability. he has already signed executive order changing immigration rules. that was done in the middle of the night. few even know about it if this continues there will be a constitutional crisis in america. unfortunately we the people are slow to understand what's actually happening here. there is no collaboration going none washington
CSPAN
Jan 10, 2013 9:00am EST
sequestration, the new deadline, i think implicitly ties any resolution of sequestration to the debt ceiling debate. now, you know, some in congress have said for every dollar increase in the debt ceiling we want a dollar in spending cuts. by the way, sequestration is a result of that same philosophy the last time we hit the debt ceiling. the republicans in congress at that time said that they wanted spending cuts to equal the amount of increase in the debt ceiling. congress could not agree on what specifically to cut for that full amount, so we came up with sequestration as a forcing function to make that happen. so these are, sequestration cuts are cuts leavitt over from the previous debt ceiling increase. now we're facing another moment where every to increase the debt ceils. if you want to increase the debt ceiling enough to give us about a year of operating time, that'd be about a trillion dollars. if you want to completely offset the cuts in sequestration with other deficit reduction, that'd be another trillion dollars. putting these two on the same timeline doubles the problem. i'm not confident congress can come up with another $2 trillion in deficit reduction by that deadline. let's keep in mind with the fiscal cl
FOX News
Jan 12, 2013 3:00pm PST
. i think we could see them raising the debt ceiling and i think it would involve some spending cuts. >> arthel: richard? >> look, as i'm sure your viewers know 'cause they've heard a lot of times, the debt ceiling was raised 18 times under ronald reagan. >> arthel: okay. exactly. >> and the debt tripled on his watch. and the people, like mercedes, weren't really kind of complaining about it then because yes, there was a spending problem, but the debt ceiling is not the place to do it. your argument is not with me or president clinton. talk to the ceo's of all these companies when the president said i'm not going to play that game, when he spoke to the business round table, that's what he meant. talk to the people on wall street who are really fearing that this kind of light suggestion of oh, we'll take our chances and see what happens. the day after -- >> arthel: richard -- >> it's not a joke. >> arthel: i need both of to you answer quickly. should the president bypass congress, raise the debt ceiling in the end, does this help or hinder him and his legacy? quickly, richard? , you first. >> yo
FOX Business
Jan 4, 2013 11:00am EST
krueger and his interview. they would like to see no drama surrounding the debt ceiling to the association. they feel the economy would be in better shape if we did not have any drama. 72% of americans agree any increase in the nation that limit must be accompanied by spending cuts and reforms of a greater amount. that is the principle i laid out, boehner said. repeated a number of times since. it sounds like a dog will have plenty of drama in his debate. >> oh, i think there will be plenty of drama. they need to propose some spending cuts and take some leadership role in this. whether we accompany the debt ceiling increase with debt reduction, which, by the way, is the typical way things happen. that is business as usual. if the president wants to avoid drama, he should get a head of this. connell: let me ask you about the debt ceiling. i think it is a pretty interesting topics. we talk about free markets and interest rates going up. if we really believed in free markets, when it we just not have a debt ceiling? you'll not be able to borrow more money, interest rates will shoot up. why do we need a limit? >> as far as principals, we do not. congress wants to have a say in their overall issue of that. we already have evidence that it is too high. countries at our le
CNBC
Jan 11, 2013 7:00pm EST
congress and increase the debt ceiling. but he cannot legally or constitutionally do that. john boehner reacts by saying washington must stop spending money it doesn't have. >>> speaking of sequester spending cuts, defense department is gearing up, so is homeland security. and the tsa. did you get your paycheck today? notice something missing? the payroll tax holiday is over. will this middle class tax hike really damage the economy? "the kudlow report" begins right now. >>> first up tonight, a developing story. four democratic senators sent a letter to president obama late this afternoon. they want him to use any means necessary to raise the debt ceiling without republican house spending cuts. that's right. cnbc's eamon javers has the details. >> reporter: let me get right to exactly what that quartet of senators said. in their letter to president obama which was viewed widely as shoring up his left flank in the political debate over the debt ceiling. what they wrote was "we believe you must be willing to take any lawful steps to ensure that america does not break its promises and trigger a global economic crisis without congressional approval, if necessary." now the signers of this letter were harry r
MSNBC
Jan 5, 2013 9:00am PST
believes he's got leverage with the debt ceiling. but i think the white house will press on whatever package they agree upon to include some new revenues as well as spending cuts, of course, that is the big issue, republicans would like it to all come from spending cuts. so, it's undoubtedly going to be another knockdown, dragdown fight, alex, but it will be interesting to see who is negotiating with whom in the coming rounds of budget battles. >> i take it you are heading back tonight, you'll be back in washington very soon? >> reporter: very soon. not quite tonight, but very soon, yes. i'm coming back. >> enjoy. >> reporter: leaving the sun and the sand. >> i was going to say, enjoy the weather as long as you can. all right, my friend, thank you, kristen. >> reporter: thanks, alex. >>> joining me now susan page and politics staff writer for "roll call," shira tuplets, wow, couldn't we all be in honolulu. hello to the both of you susan, i'll begin with you here, the president has said no compromise whatsoever on the debt ceiling but reports say that speaker boehner told fellow republicans he'll use the debt ceiling as leverage for spending cuts. who do you see as
FOX News
Jan 6, 2013 9:00am PST
senators to vote against the fiscal cliff deal. now we are preparing for the debt ceiling. do you expect the same contentiousness and loggerheads? >> i think it will be contentious. it should be. we continue to borrow and spend. we don't cut. we are headed down the road to financial destruction, as everybody knows. we do need to pay our debts, but we don't need to keep incurring that debt. that's the argument we should make. we have to come to financial sanity and we are not there yet. i believe at theep of the day, if the president will get involved -- if he will get involved, we could do some good things, but we have to cut spending, we have some type of a grand bargain? i don't know. but we are in better shape than we were on the tax stuff. >> you said you would like to see the president get involved. let's listen to your boss talk about that? >> the single biggest threat to america's future and that's our excessive spending. i would like for the president to lead. it is a shame that we have to drag him to the table. >> and also, the president recently remarked that he does not want to get into a fight over the debt ceiling. let's listen up to that. >> i will negotiate over many things. >> i will not have another debate wi
CNBC
Jan 11, 2013 3:00pm EST
raised the debt ceiling and promised to cut $1.2 trillion. guess what? they punted on that one. now they are one sequestration in arrears. they owe us two and we're not getting any. that's not shooting ourselves in the foot. it's shooting our children in the head. >> i would argue that they did the -- i would argue they absolutely did not do the right thing. they probably should have let things lie and started over for something bill bigger and more structural. if you look at the last two years, you've got a tax hike and delayed sequestration of spending cuts. >> right. >> so what did you get? you got a tax hike? i'm not sure that's in the best interest of the economy. >> we'll wrap this up. i'll give you a chance to take back that somewhat uncolorful statement that you just made. >> we don't think you meant it in any literal way. >> i think -- not a time -- >> i think our economic policies are suicidal for the country in the long run. >> okay, all right. thanks, everybody. >> there's a way to make a point and another way to make a point that's all i'm saying. >> just saying. >> the
Comedy Central
Jan 7, 2013 11:00pm PST
massive spending cuts will coincide with another debt ceiling battle. is there anything in this debacle that we can all agree on? >> house speaker john boehner had kind of a rough week here. the at a party folks not happy with the deal that he struck >> the president was able to get the speaker to undo everything he had promised he would do >> where are you? mr. speaker, we need leadership. >> tonight i am ashamed, shame on you, mr. speaker. >> jon: republican or democrat, senator or congressman, team edward or team jacob, everyone agrees john boehner sucks. at least we can be assured that as the incoming congress votes for a new speaker of the house, it's clear what the outcome is going to be. >> john boehner won re-election as house speaker today. >> jon: oh, boy. (train whistle blowing) >> jon: welcome back to the show. listen. as you may recall, a couple months ago america was hit by two major disasters. one of them natural, hurricane sandy and one of them somewhat man made the republican majority in the house of representatives. the second of those disasters has made it imp
CW
Jan 6, 2013 8:30am PST
. republicans, however, may want to fight. they may tie the debt ceiling to spending cuts if they haven't -- that they haven't gotten so far. they see it as an opening and going to happen at the end of february when the debt limit comes up along with mandatory reductions in spending. >>> the fiscal cliff tug-of-war ends with pork, a lot of it. >>> plus big brother on the bus? how many muni plans to keep a close eye on its riders in the coming year. >>> a new push to stop mass shootings and the stockpiling of ammo. our conversation with congresswoman nancy skinner coming up next. [ male announcer ] the distances aren't getting shorter. ♪ the trucks are going farther. the 2013 ram 1500 with best-in-class fuel economy. engineered to move heaven and earth. guts. glory. ram. the new ram 1500. >>> if you ride muni, get ready for your close-up. the agency is expanding its surveillance technology. cbs5 reporter mike sugerman on what that means for passengers. >> reporter: muni isn't usually the stuff of hollywood until it is. all 800 or so muni buses and several hundred trains are waiting to be
CNN
Jan 4, 2013 8:00am PST
get hit other sort of cliffs, you know, on spending cuts and the debt ceiling, so that's what's worrying the market here. but if you look at how the jobs market held up in december, this is actually good, because you see the numbers. and one analyst tells me, they've pretty much held up through the fiscal cliff craziness, they could have taken a dive and they didn't, although today's report does show stagnation as far as retail jobs go, because retailers usually a sprite spot in december. we did see the number of jobs in retail fall, and that could be a reflection of what the fiscal cliff did to consumer confidence. you know, but when you look at the greater -- the broader market, there's no question, actually, that washington got in the way in bigger gains for december in the market and this week as well. and even though we've had an impressive two-day rally at the beginning of the week and it is all about the looming fights in congress over the spending cuts and the debt ceiling, they'll make for a couple volatile months for the market in january and february, ashleigh. >> oka
CNBC
Jan 7, 2013 7:00pm EST
debt ceiling increase we're talking about came supposedly as a result of the $1.2 trillion spending cut sequester that never happened. now, that to me is bizarre and democrats want to replace it with more tax hikes. >> well, you have had this ground hog day aspect to this, right? where you continue to kick the can down the field. the reality is that we currently have a political market forces that are inconsistent with doing the right thing by our economy. i mean, you just heard the senator, i would suggest if he feels that way, he may want to begin by having a conversation with his own leader, senator mcconnell who spent the weekend talking about the fact that he was only going to look at one aspect of this. the reality is, if you're going to bring people together, it does have to be a bigger deal with pieces from both sides. otherwise you're going to continue to have the same process. we kick the can, we don't make any of the hard decisions and end up with a situation we just saw this week. look at the cover of the economist, right? the cover of "the economist" is making fun of our country. whe
FOX
Jan 4, 2013 6:00am EST
- problems. with the looming debt ceiling crisis, lawmmkers cut spending, which as proved not to be an asy task with partisan politics at ppay. the new year we'll focus on is seeing if we can put a paccage little bit less drama, a - little bit less brinksmanship. this coogresssincludes the fiist openlyygayyseeatorrann the first openly bi-sexual member from either chamber.it also ncludes a record number of women - 20 in tte senate and 81 in the house. the new congress is scheduled to vote todayy.. on aid foo viccims of superstorm sandy. the house is expected to billion-dollar measure... to pay for flood insurance claims. some lawmaaers say the mooey is urgently needed for storm victtms... who have been awaiting claim checkk sincc this was the scene thursday... as earry 4-hundred sandy hook sttdents resumed class.tte siteeof the shooting is still part of an ongoing investigation... so former middle school in nearby town was re-puuposed... and reeamed students a sense of familiarity... desks and otter oojects were bbought to their new school. a number of &pparents also spent the day there...
NBC
Jan 6, 2013 11:00pm PST
in washington. this one over rizing the debt ceiling. republicans will not agree on taking on more debt without cuts on medicare, medicaid, and other social services. >> i think tax reform ought to be revenue neutral as it was back in the reagan years. we resolved that issue. with don't have this problem because we tax too little. we have it because we spend way, way too much. we settle the tax issue. the question is now can we address the single biggest threat to america's future. that's our excessive spending. >> some say this stand-up could be worse than the fiscal cliff fight. house minority leader nancy pelosi says the president should bypass the debate all together and sign the new debt ceiling into law. she told "face the nation" viewers that president has the 14th amendment on his side which states that the nation's debt shall always be paid. >>> po >>> pelosi met with hundreds of quaints and colleagues to talk about last year's chag lengs and accomplishments and this year's goals. in 2013 the democratic party will continue to focus on growing and supporting the middle class, she says. >> pract
NBC
Jan 9, 2013 4:00am PST
fiscal cliff part two and the debt and debt ceiling and lots of discussion about that, budget cuts, spending cuts possibly coming up the top republican on the nature side they may not get to gun control until the spring. richard. >> a lot of political capital will be spent on those issues. thank you so much. >> more turbulence for boeing's dreamliner. a fuel leak on a 787 forced it to cancel takeoff and return to the gate. one day later, a different plane also at logan caught fire. it was empty at the time. united airlines, the only american airier to operate the dreamliner said it has ordered inspections of all of its 787s. it's not a serious problem given the high-tech plane but they warned it could still undermine consumer confidence. >>> the government is calling for an urgent review of the nation's arctic offshore drilling practices in the wake of a series of missteps voflg the shell oil company. this week's grounding of a shell oil rig off the coast of alaska is just the latest in a string of blunders zaents involving the company's ship and support equipment. the 60-day assessment coul
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